Really who knows what the environmental liability is and whether any rehabilitation has to be taken place?
Where is:
1. Independent valuation report on the plant? This is a basic requirement. When and who will complete this?
2. Where is the independent JORC report for what the inferred resource might be? When mining happens a lot of resource can be lost or no longer economic to mine. This is a basic requirement of a transaction like this.
3. Where is the assurance from Mali govt that they will not just take back the plant / environmental liability?
4. Where is the independent audit report on the financials / outstanding liabilities done by a big 4 accounting firm.
5. Where is the environmental reports that everything is ok?
Are all the licenses in a good standing are we guessing as to what licenses are being included?
This has problems all over it from the get go ignoring the massive dilution I am going to take.
My trading strategy will be to sell 50% of my holding at open. Clearly this was a leaky ship prior to this being released as reflected in the share price surge before it was announced.
Would love to see the trading history of who was trading over the prior 2 weeks maybe something for ASIC to look into.
MLL Price at posting:
19.5¢ Sentiment: Sell Disclosure: Held